BITM 215 EXAM QUESTIONS AND ANSWERS LATEST UPDATE A+
GRADED
Goal Seek is used to
Work Backwards from a solution to determine one variables required value. A tool that
identifies the necessary input value to obtain a goal by changing one variable. Only one
variable and one result
Scenario Manager
is a What- if analysis tool that enables you to define and manage up to 32 scenarios to
compare their effects on calculated results
scenario summary report
an organized structured table of the scenarios, their input values, and their respective
results
Add-ins
programs that can be added to excel to provide enhanced functionality
Solver
An add-in application that manipulates variables based on constraints to find the optimal
solution to a problem.
Optimization models
find the highest, lowest, or exact value for one particular result by adjusting values for
selected variables
Solver is enabled by default - true or false
FALSE
objective cell
specifies the cell that contains the formula to be optimized
Nested Logical Function
A function inside another function
For an AND function to be true
Both Logical tests must be true
For an OR function to be true
Only one has to be true
ANNOVA
Analysis of Variance. Statistical hypothesis that determines if samples of data were
taken from the same population.
The CORREL Function
Identifies strength in relationship between variables
Histogram requires the analysis toolpak - T or F
TRUE
Range Names
A word or string of characters assigned to one or more cells
What-if analysis
enables you to experiment with different variables or assumptions so that you can
observe and compare how these changes affect a related outcome
Variable
An input value that can change to other values to affect the results of a situation
GRADED
Goal Seek is used to
Work Backwards from a solution to determine one variables required value. A tool that
identifies the necessary input value to obtain a goal by changing one variable. Only one
variable and one result
Scenario Manager
is a What- if analysis tool that enables you to define and manage up to 32 scenarios to
compare their effects on calculated results
scenario summary report
an organized structured table of the scenarios, their input values, and their respective
results
Add-ins
programs that can be added to excel to provide enhanced functionality
Solver
An add-in application that manipulates variables based on constraints to find the optimal
solution to a problem.
Optimization models
find the highest, lowest, or exact value for one particular result by adjusting values for
selected variables
Solver is enabled by default - true or false
FALSE
objective cell
specifies the cell that contains the formula to be optimized
Nested Logical Function
A function inside another function
For an AND function to be true
Both Logical tests must be true
For an OR function to be true
Only one has to be true
ANNOVA
Analysis of Variance. Statistical hypothesis that determines if samples of data were
taken from the same population.
The CORREL Function
Identifies strength in relationship between variables
Histogram requires the analysis toolpak - T or F
TRUE
Range Names
A word or string of characters assigned to one or more cells
What-if analysis
enables you to experiment with different variables or assumptions so that you can
observe and compare how these changes affect a related outcome
Variable
An input value that can change to other values to affect the results of a situation
